Press releases | Derivatives & Structured Products, Finance, Pensions, Pensions De-risking | 18 Oct 2019

Travers Smith advises on £3.8 billion buy-in of the Asda Group Pension Scheme

Overview

Travers Smith LLP has acted for Rothesay Life PLC in connection with the £3.8 billion buy-in of the Asda Group Pension Scheme. 

The buy-in has been secured in anticipation of a full buyout of the Scheme.

The Travers Smith team was led by Partners Dan Naylor and Susie Daykin and included Derivatives & Structured Products Partner Sebastian Reger and was assisted by Senior Associates Niamh Hamlyn and Joseph Wren.

Travers Smith has a market-leading pensions and pensions insurance practice. We advise trustees, employers and parties to corporate transactions on all areas of the law relevant to the operation of and assessment of risks in relation to pension schemes. This includes significant experience in full and partial buy-ins, buyouts, longevity hedging and synthetic de-risking structures of all sizes and complexities. Recent examples of our de-risking work include advising British American Tobacco on a buy-in of the British American Tobacco UK Pension Fund and advising the Trustees of the Nortel Networks UK Pension Plan on its £2.5billion buy-out.